Brokers have reported a milestone first physical cargo trade of low-sulphur fuel oil (LSFO).
The deal involved 20,000 tonnes of 0.5% sulphur bunkers sold by Shell in Singapore to P66, Platts said.
The price was $19 per tonne for delivery between October 16 and 20, according to trade data collected by Reuters.
"This first trade signifies that the market is ready and willing to transit to cleaner fuels earlier than most people had anticipated," Matt Stanley, oil broker at StarFuels in Dubai, told Reuters.
